HomeTile sector needs NP to push the prices...almost all DP's companies are the same. LFIN had to fall to Rs 97 for NP to take it to these levels.
Of course, that provides lot of opportunity as well
Of course, that provides lot of opportunity as well
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stocks hunter
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2015 Budget benefits, hidden issues - discussion
sashimaal- Top contributor
- Posts : 5785
Join date : 2014-02-28
- Post n°26
Re: 2015 Budget benefits, hidden issues - discussion
by sashimaal Sat Oct 25, 2014 3:41 pm
slstock- Veteran
- Posts : 6216
Join date : 2014-06-12
Poultry Lovers :
For small poultry farms ( not CSE listed ones) a supply mechanism is proposed to provide maize at Rs. 40 per kg.
The export incentives for chicken and eggs is yet to be disclosed.
Other things related :
Rs. 200 million allocated to strengthen related veterinary services with modern facilities
Recruit 500 Technical Assistants to the field of animal husbandry
For small poultry farms ( not CSE listed ones) a supply mechanism is proposed to provide maize at Rs. 40 per kg.
The export incentives for chicken and eggs is yet to be disclosed.
Other things related :
Rs. 200 million allocated to strengthen related veterinary services with modern facilities
Recruit 500 Technical Assistants to the field of animal husbandry
stocks hunter- Top contributor
- Posts : 1280
Join date : 2014-03-16
- Post n°28
Re: 2015 Budget benefits, hidden issues - discussion
by stocks hunter Sat Oct 25, 2014 4:15 pm
Lanka President promises relief for all sectors through BUdget 2015
Promising relief for all sectors and sections of Sri Lankan society, President Mahinda Rajapaksa has said that the budget for the year 2015 will aim to create an innovative, knowledge-based and self-reliant advanced economy.
According to the Lanka Page web site, the 2015 budget has proposed many concessions, including pay hikes for all sectors. To accommodate the proposed pay hikes a news salary structure will be introduced for the public sector from January.
All special allowances currently being paid to the public will be added to the basic salary and the minimum salary of public workers will be increased up to Rs. 15,000. Cost of living allowance will be increased by Rs. 2,200 rupees.
Casual and temporary employees who have completed 180 days service in Corporations and Statutory Boards will be made permanent.
The President proposes to increase the minimum salary of the private sector up to 10,000 rupees. Their monthly salary will be increased by 500 rupees. Employers' contribution to employees' provident funds will be raised from the current 12 percent of pay to 14 percent.
Interest rates of the savings of senior citizens in State Banks will be increased up to 12 percent. The tax on interest will be removed. The value-added tax will be reduced to 11 percent from 12 percent.
The 2015 budget promised farmers free seeds for growing rice next season and a 17.6 percent increase in guaranteed price for their paddy. The certified price for a kilo of paddy will be increased up to Rs.40 while continuing to provide fertilizer at the subsidized price of Rs. 350 per 50 kg bag. Fertilizer for other crops will be given at Rs. 1,250 per 50 kg bag. A certified price will be announced for potatoes, big onion, and maize.
The budget proposed relief in every sector including plantation, education, health, and transportation.
The President asked all sectors of the society to extend their utmost support to successfully implement the budget proposals.
http://www.business-standard.com/article/news-ani/lanka-president-promises-relief-for-all-sectors-through-budget-2015-114102500270_1.html
Promising relief for all sectors and sections of Sri Lankan society, President Mahinda Rajapaksa has said that the budget for the year 2015 will aim to create an innovative, knowledge-based and self-reliant advanced economy.
According to the Lanka Page web site, the 2015 budget has proposed many concessions, including pay hikes for all sectors. To accommodate the proposed pay hikes a news salary structure will be introduced for the public sector from January.
All special allowances currently being paid to the public will be added to the basic salary and the minimum salary of public workers will be increased up to Rs. 15,000. Cost of living allowance will be increased by Rs. 2,200 rupees.
Casual and temporary employees who have completed 180 days service in Corporations and Statutory Boards will be made permanent.
The President proposes to increase the minimum salary of the private sector up to 10,000 rupees. Their monthly salary will be increased by 500 rupees. Employers' contribution to employees' provident funds will be raised from the current 12 percent of pay to 14 percent.
Interest rates of the savings of senior citizens in State Banks will be increased up to 12 percent. The tax on interest will be removed. The value-added tax will be reduced to 11 percent from 12 percent.
The 2015 budget promised farmers free seeds for growing rice next season and a 17.6 percent increase in guaranteed price for their paddy. The certified price for a kilo of paddy will be increased up to Rs.40 while continuing to provide fertilizer at the subsidized price of Rs. 350 per 50 kg bag. Fertilizer for other crops will be given at Rs. 1,250 per 50 kg bag. A certified price will be announced for potatoes, big onion, and maize.
The budget proposed relief in every sector including plantation, education, health, and transportation.
The President asked all sectors of the society to extend their utmost support to successfully implement the budget proposals.
http://www.business-standard.com/article/news-ani/lanka-president-promises-relief-for-all-sectors-through-budget-2015-114102500270_1.html
stocks hunter- Top contributor
- Posts : 1280
Join date : 2014-03-16
- Post n°29
Re: 2015 Budget benefits, hidden issues - discussion
by stocks hunter Sat Oct 25, 2014 4:19 pm
That means hotels are not going to benefit from this reduction? AYYO?
stocks hunter wrote:Reduction of electricity tariff for hotel sector will be a big boost for their bottomline. I know in some hotels the salary bill is Rs 3.0mn but the CEB bill is Rs 4.0mn. For sure this will be a big boost for them.
sashimaal- Top contributor
- Posts : 5785
Join date : 2014-02-28
- Post n°30
Re: 2015 Budget benefits, hidden issues - discussion
by sashimaal Sat Oct 25, 2014 5:03 pm
SH- 15% means Rs 6 lacks in your example. That is Rs 7.2 million saving for the year for that Hotel.
Good noh?
Good noh?
stocks hunter wrote:That means hotels are not going to benefit from this reduction? AYYO?stocks hunter wrote:Reduction of electricity tariff for hotel sector will be a big boost for their bottomline. I know in some hotels the salary bill is Rs 3.0mn but the CEB bill is Rs 4.0mn. For sure this will be a big boost for them.
Last edited by sashimaal on Sat Oct 25, 2014 5:06 pm; edited 1 time in total
sapumal- Posts : 304
Join date : 2014-09-10
I dont think this is a people friendly budget. This is people fooled budget. They have clearly define the allowance but they have not define the conditions correctly. For an example
senior citizens gets 12% interest. Pensioners get 12% interest. But they have not defined the Senior citizen or Pensioners. Also life expectation going to increased to 80. So who are senior citizen. Government will claim since life expectation is increased to 80, senior citizens are citizen older than 70. Also pensioners don't have money to save in bank. They live by the pension. When it says pensioners , private workers are not included ? So this is again a fake.
Even though government promised to give 300 per rubber they will not pay. They are not paying minimum price even for paddy for decades.
senior citizens gets 12% interest. Pensioners get 12% interest. But they have not defined the Senior citizen or Pensioners. Also life expectation going to increased to 80. So who are senior citizen. Government will claim since life expectation is increased to 80, senior citizens are citizen older than 70. Also pensioners don't have money to save in bank. They live by the pension. When it says pensioners , private workers are not included ? So this is again a fake.
Even though government promised to give 300 per rubber they will not pay. They are not paying minimum price even for paddy for decades.
kass- Top contributor
- Posts : 470
Join date : 2014-02-27
sapumal wrote: I dont think this is a people friendly budget. This is people fooled budget. They have clearly define the allowance but they have not define the conditions correctly. For an example
senior citizens gets 12% interest. Pensioners get 12% interest. But they have not defined the Senior citizen or Pensioners. Also life expectation going to increased to 80. So who are senior citizen. Government will claim since life expectation is increased to 80, senior citizens are citizen older than 70. Also pensioners don't have money to save in bank. They live by the pension. When it says pensioners , private workers are not included ? So this is again a fake.
Even though government promised to give 300 per rubber they will not pay. They are not paying minimum price even for paddy for decades.
Current senior citizen threshold is 55 years hope that would not be changed. As I heard this 12% FD cost to banks will be set off by issuing treasury bills and bonds at 12% for government banks. Finance companies have to pay 11% but no bond issue to cover up the costs of those finance companies.
In a low interest scenario banks would loose a lot of deposits and the excess liquidity on banking sector will be reduced gradually. Fiance companies will have to lend at even higher rates to match the cost of 11% FDs and would be difficult for them to meet that under this low interest scenario.
This will not be the case for micro finance sector players becaz they can easily lend at 25% +. So my guess is this intervention to market interest rates will trigger a rate hike unless CB does something.
Ianian- Posts : 46
Join date : 2014-02-26
slstock wrote:Dimo has Nano.
Also most of these companies ( not sure COLO) have big items buses, vans which have benefits.
Overall seems budget is good for Motor sector in general.stocks hunter wrote:UML is benefitting here since they have below 1000cc motor car range. No benefit or sometimes volumes may come down in COLO and DIMO since they don't have a below 1000cc vehicle range. Am i correct here?sometimes it may be insignificant as well for COLO and DIMO
It seems that Colo is now out of the vehicle business. I just read this article from a year back in the Daily FT -
End of the road for Colonial Motor’s vehicle biz
Published : 3:07 am August 30, 2013 | 1,475 views | No comments so far | Print This Post | E-mail to friend
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Colonial Motors Plc has decided to phase out its motor vehicle-related business activities and focus on being a property holding and investment company, as CM Holdings Plc.
The Board has resolved that pending this move, the company will limit motor vehicle business to meeting pre-existing obligations. After that the Colonial Motors will cease to undertake any new business in relation to repairing, and servicing of motor vehicles and the importation and sale of vehicle spare parts.
However, KIA Motors (Lanka) Ltd., which will remain a subsidiary of Colonial Motors, will continue to import and market the KIA range of vehicles.
Colonial Board has approved in principle the transfer of Carplan Ltd., currently a subsidiary of the Company to KIA Motors (Lanka) Ltd. to be its subsidiary and also to be a principal dealer of KIA motor vehicles.
The modalities of implementing these matters will be determined in due course subject to necessary approvals if any being obtained.
To obtain shareholder approval for these changes, Colonial Motors will hold an EGM on 27 September soon after the AGM also fixed on the same date.
The Colombo Fort Land and Buildings Plc holds a 65% stake in Colonial Motors Plc.
In the FY13, Colonial Motors recorded a Group profit of Rs. 269 million, up by 14% over the previous year. However, net profit attributable to equity holders amounted to Rs. 26 million, down from Rs. 387 million.
In 1Q FY14, net profit was down by 14% to Rs. 44.3 million whilst net profit attributable to equity holders amounted to Rs. 56.5 million as against a loss of Rs. 111 million in 1Q of the last financial year.
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